Answer these questions.
1) Discuss Oligopoly. Consider some of the following questions in your response:

What is an oligopoly?

Why do oligopolies form?

Do oligopolists enjoy market advantages not available to other firms?

In your response please identify 2 or 3 industries characterized by oligopoly … like the soft drink industry pictured above!

Please read the textbook on poverty (Chapter 14), and review the following facts – then address the question(s) that follows:

Almost half the world — over 3 billion people — live on less than $2.50 a day.

The GDP (Gross Domestic Product) of the 41 Heavily Indebted Poor Countries (567 million people) is less than the wealth of the world’s 7 richest people combined.

Nearly a billion people entered the 21st century unable to read a book or sign their names.

Less than one per cent of what the world spent every year on weapons was needed to put every child into school by the year 2000 and yet it didn’t happen.


2) If you had the authority, how would you go about tackling/solving the problem of poverty? Consider some of these thought questions as you form your response

Is poverty a problem in America? … or does it only exist “over there”?

Is income redistribution the answer? … maybe higher/different taxes?

Should we care about the poor – or did they bring it upon themselves?

Would you be willing to take a pay cut to help solve the problem?